Cloudflare (NYSE:NET) Price Target Raised to $125.00

Cloudflare (NYSE:NET) had its price target raised by Jefferies Financial Group from $100.00 to $125.00 in a research report sent to investors on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other equities analysts have also commented on the stock. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Scotiabank lifted their price target on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Finally, Piper Sandler boosted their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average target price of $97.81.

Cloudflare Trading Up 3.8 %

Shares of NET stock opened at $112.69 on Thursday. The stock has a market cap of $38.67 billion, a P/E ratio of -433.42 and a beta of 1.10. Cloudflare has a 1 year low of $66.24 and a 1 year high of $119.42. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a 50 day simple moving average of $98.69 and a 200 day simple moving average of $86.54.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, research analysts predict that Cloudflare will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,204,267.80. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 629,592 shares of company stock valued at $61,334,450 over the last ninety days. 12.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock worth $62,000 after purchasing an additional 752 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Cloudflare during the 2nd quarter worth approximately $320,000. Baillie Gifford & Co. increased its stake in shares of Cloudflare by 8.5% in the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after acquiring an additional 2,575,396 shares in the last quarter. Institute for Wealth Management LLC. lifted its position in shares of Cloudflare by 71.0% during the 2nd quarter. Institute for Wealth Management LLC. now owns 8,422 shares of the company’s stock valued at $698,000 after acquiring an additional 3,498 shares during the period. Finally, Independence Bank of Kentucky boosted its stake in Cloudflare by 5.8% during the second quarter. Independence Bank of Kentucky now owns 5,045 shares of the company’s stock worth $418,000 after acquiring an additional 275 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.